East Timor does not have its own unique currency. The country instead uses the American Dollar (USD) as a currency, as well as the Indonesian Rupiah. The former helps make sending money to East Timor much easier.
If you’re worried about fluctuations in currency conversion rates, it would be helpful to study the USD, its history, and the factors which are affecting it right now.
The fastest way to send money to East Timor is through Western Union’s fast option. With Western Union’s fast option, you can expect your money to reach its destination in a matter of minutes. Cash pickups are the fastest and easiest method to organize, while bank transfers take longer. The main downside to Western Union’s fast option is the fact that it is more expensive than most of the competition. You can always expect to pay more with Western Union.
The cheapest way to send money to East Timor is through TransferWise. TransferWise charges a stated, upfront fee which can appear slightly high. The real savings come from the fact that TransferWise is one of the very few services which doesn’t charge any hidden currency conversion markup. You always know how much you’re paying with TransferWise, which is another added benefit. In the end, TransferWise is the cheapest option for sending money to East Timor.
The easiest way to send money to East Timor is also through TransferWise. TransferWise makes sending money to East Timor exceptionally easy. After you set up your account, all you need to do is follow these simple steps:
1) Tap in the amount of money to be sent
2) Tap in the destination
3) Pay TransferWise for the transaction.
4) Wait one or two days for the funds to arrive at their destination
At this point, it should be no surprise that TransferWise also offers you the overall best way to send money to East Timor. TransferWise is the best option because they offer the best-rounded deal, which is good for many different situations. Their waiting times are moderate at one or two days, but the rates they charge and the platforms they offer are the areas where TransferWise shines. When ease of use, cost, and speed are all considered, TransferWise is the best option for sending money to East Timor. Your money should arrive in USD.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com